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2. Effect of Purchase Agreement. This Agreement and the remedies afforded <br />Indemnified Party hereunder, shall be in addition to any remedies Indemnified Party has under the <br />Purchase Agreement, and shall survive recordation of the grant deed conveying the Property to <br />Indemnified Party. <br />3. Governing This Agreement is governed by California law without regard to <br />its choice of law rules. <br />4. Successors. This Agreement is binding upon and inures to the benefit of the <br />successors and assigns of the Indemnitor and the Indemnified Parry. <br />5. Effective Date. This Agreement shall be effective as of the date of issuance of the <br />grading permits for the Project. <br />6. Entire Agreement. This Agreement is the sole and complete statement of the <br />obligations and rights of the parties as to all matters covered by this Agreement. <br />7. Amendments. Any modification of this Agreement will be effective only if it is in <br />writing and signed by the party to be charged. <br />By signature below, Indemnitor acknowledges and agrees to all terms referenced above. <br />INDEMNITOR: INDEMNIFIED PARTY: <br />REDLANDS COMMUNITY INVESTMENT CITY OF RE S, a municipal <br />CORPORATION, a California corporation corporation <br />By: <- <br />Name: ance Lenhert <br />Its: Vice President/CFO <br />17942.00158142321701.1 <br />By: <br />Nam . ddie Tej <br />Its: Mayor <br />ATTEST: <br />45A.0—� <br />JE§j7Ae Donaldson, City Clerk <br />